WTI - W&T Offshore stock rises on senior notes offering
- W&T Offshore ( NYSE: WTI ) shares rose 4% on Monday after the oil and natural gas producer proposed to sell $275M in aggregate principal amount of senior second lien notes due 2026 in a private offering.
- Net proceeds of the offering, along with cash on hand, will be used redeem all of the company's 9.75% Senior Second Lien Notes due 2023.
- The redemption price of the existing second lien notes is equal to 100.000% of the aggregate principal amount outstanding, plus accrued and unpaid interest to, but not including, the redemption date.
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W&T Offshore stock rises on senior notes offering